Why JetBlue Shares Are Up Today

On Monday, two U.S. discount airlines announced plans to merge. Shares of JetBlue Airways (NASDAQ: JBLU) surged by more than 5% in early trading on speculation that perhaps it could be the next acquisition target. As of 11:04 a.m. ET, the shares were up by 4.2%.

Airlines were hard hit by the pandemic, but the industry is slowly recovering from its lows. The sector hit a milestone in that recovery on Monday, when discount carriers Frontier Holdings Group (NASDAQ: ULCC) and Spirit Airlines (NYSE: SAVE) announced plans to combine to create the nation's fifth-largest airline.

Image source: JetBlue Airways.

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Source Fool.com